Solana (SOL) is presently priced around $186, after a rather turbulent display in the past week. While the leading altcoin notably showed a significantly volatile price action, bearish sentiments reigned supreme, resulting in a net 4.37% loss. Interestingly, popular expert Ali Martinez has highlighted a critical price level for Solana investors’ attention amid the current market uncertainty.
Furthermore, on-chain data from the leading analytics platform Glassnode shows that 24.5 million SOL were purchased at this level, reflecting a high market demand that will likely prevent further price incursion upon a retest. Looking at Martinez’s analysis, a consistent price hold above $180 retains the validity of the ascending channel and presents a setup for a potential price gain to $230, with further price targets at $290.
However, if an overwhelming bearish pressure pushes Solana below $180, investors can expect a further decline to around $115, while a potential crash to $50 is also feasible. Therefore, Solana’s behavior at $180 presents a possible 56% gain or 72% loss from current market prices.
At press time, Solana (SOL) is trading at $185, up 4.57% over the past 24 hours. Despite the daily rebound, its monthly performance remains negative, with a 14.27% decline highlighting the broader weakness seen in the last week.
This week’s events represent a significant step toward broadening institutional access to Solana and other altcoins, paving the way for deeper market participation beyond Bitcoin and Ethereum.
